CoinWorld reported that Nasdaq-listed Verb Technology Company announced it has raised $558 million through the issuance of approximately 58.7 million shares of common stock, with Kingsway leading the investment. Several institutions participated, including Vy Capital, Blockchain.com, Ribbit Capital, Graticule (GAMA), CMCC Global, Pantera, ParaFi Capital, Luxor Capital, Arrington Capital, Animoca, Kraken, and Primitive Ventures. The company plans to immediately purchase TON and use it as the company's primary financial reserve asset. Additionally, the company plans to change its name to TON Strategy Co.